Question
2 Part 3 of 4 points Required Information [The following Information applies to the questions displayed below.] Warnerwoods Company uses a perpetual Inventory system. It
2 Part 3 of 4 points Required Information [The following Information applies to the questions displayed below.] Warnerwoods Company uses a perpetual Inventory system. It entered into the following purchases and sales transactions for March. Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales eBook Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 160 units @ $52.20 per unit 255 units @ $57.20 per unit 115 units @ $62.20 per unit 210 units @ $64.20 per unit Units Sold at Retail 320 units @ $87.20 per unit Totals 740 units 190 units @ $97.20 per unit 510 units Print 10 References 3. Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific Identification. For specific Identification, the March 9 sale consisted of 95 units from beginning Inventory and 225 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 115 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Date March 1 March 5 March 9 March 18 March 25 March 29 Totals Goods Purchased # of units Cost of Goods Sold Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Type here to search Inventory Balance 160 @ Cost per unit $52.20 = Inventory Balance $ 8,352.00 JUL
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